Topic: Taxes

Confirming an earlier report, the European Commission on Wednesday said it will bring Ireland to the European Court of Justice for failing to collect at least $15 billion in back taxes from Apple, which were originally due Jan. 3.

The European Commission is set to penalize Ireland with a "non-compliance action" for failing to collect up to $17.6 billion in back taxes from Apple, owed after the Commission found the Irish government brokered unfair deals that constituted illegal state aid.

In a German interview this week, Ireland's finance minister attacked the European Commission's ruling calling for the collection of $15 billion in back taxes (plus interest) from Apple, saying it was both unjustified and outside Ireland's responsibility.

Apple and the Irish government are reportedly nearing a deal that would shield the latter from losses incurred while holding up to $17.7 billion in Apple cash, including interest -- money that may be due in back taxes following a 2016 European Commission ruling.

In a first formal step opposing the blockbuster tax ruling by the European Union, the U.S. government has reportedly filed with the European Union General Court to opposition the $14.8 billion mandate by the European Commission.

As of the end of the March quarter, Apple held $256.8 billion cash on hand, with the vast majority of it held overseas awaiting possible repatriation tax reform -- if the U.S. government is inclined to cooperate.

Apple is reportedly one of seven multinationals the Australian Taxation Office has asked to pay hundreds of millions of dollars in back taxes, accusing the corporations of using tactics like "debt dumping" and moving profits offshore to avoid obligations.

Apple has not paid any income tax in New Zealand for the last ten years, a new report reveals , with the iPhone producer said to have paid out only $37 million from sales generated in the country, paying the due tax to the Australian Tax Office instead of New Zealand's Inland Revenue.

Sport bands for the Apple Watch continue to be a taxable accessory in the United Kingdom, after a tax tribunal ruled the strap should not be exempt from import duty, despite Apple's insistence it is an essential part that allows many of the wearable device's functions to work.

Tax Day 2017 falls on Tuesday, April 18 this year, and although taxpayers get a few extra days to file, you'll need the right tools to get the job done. AppleInsider is rounding up the best tax prep software and filing tools to not only meet, but beat the deadline.

Apple has filed its appeal with the European court of appeals, all declaring that the European Commission's decision to levy $14 billion in taxes on Apple on behalf of the EU is erroneous, against the rule of law, and should be stricken.

Apple has declined a second invitation to a meeting with a finance committee in Ireland over the European Commission's $14 billion tax ruling, while Irish Finance Minister Michael Noonan has accused the regulator of making a politically motivated decision.

With the newly anointed administration of U.S. President Donald Trump signaling a business-friendly environment, Apple Chief Executive Tim Cook said he's hopeful that his company will be able to finally bring some of its massive $231.3 billion cash hoard back home at a reasonable tax rate.

Apple has missed the deadline to pay the 13 billion euros ($14 billion) the iPhone producer was ordered to pay Ireland in back taxes, but the European Commission is noting that progress is still being made by Apple to comply with its ruling.

An Irish legislative committee is reportedly optimistic that Apple CEO Tim Cook will accept an invitation to attend a late January hearing, which will examine the European Commission's ruling that Ireland must collect $14.5 billion in back taxes from the iPhone maker.

Although technically refusing to repatriate its international revenue to avoid taxes, Apple is actually keeping much of it in the U.S. in the form of bonds -- and generating interest in the process, a report pointed out on Wednesday.

A judge in Milan, Italy has reportedly agreed to a settlement with the head of Apple Sales International in a case over unpaid corporate taxes in the country, which might otherwise have resulted in the Apple executive serving a six-month prison sentence.